The Chennai Corporation will rope in private agencies to create multi-level parking lots in all major roads in the city. The civic body has called for expression of interest from entities such as private firms and joint ventures on construction and maintenance of multi-level parking facilities in all major roads on a DBOT (Design, Build, Operate and Transfer) basis. The private agencies will identify suitable spots including Corporation lands near major roads that require additional parking space.
The agency will also come up with a detailed project report and a suitable revenue model for the parking lots. The agency will choose a suitable parking system for each location based on the existing civic conditions.
The decision to involve private entities has been taken as the Chennai Metropolitan Development Authority and Chennai Corporation have been unable to cope with the challenges in creating new parking lots. The CMDA and Chennai Corporation have been planning to conduct feasibility studies on the many proposed facilities such as Third Avenue in Anna Nagar East and at the Vijay Nagar bus terminus in Velachery that are part of the Chennai Comprehensive Transportation Study. However, the lack of coordination among the various land-owning departments and the planning agencies has been a stumbling block for the implementation of such projects.
The new initiative of Chennai Corporation is expected to generate additional data pertaining to traffic study at many congested localities.